Development
BlackRock invests in Sundance-anchored project
Jan 22, 2015
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Eddie Baeb
BlackRock invests in Sundance-anchored project
In July 2007, Crain’s Chicago Business reported that BlackRock, a global investment management firm overseeing over $22 billion in real estate debt and equity, acquired a significant stake in a major West Loop development anchored by a Sundance Cinemas theater. The project, developed by IBT Group, was set to include a 14-screen theater, retail spaces, and a 1,000-car parking garage, aiming to revitalize the Randolph Street corridor. This investment marked BlackRock’s first in the Chicago retail market and underscored the area's growing appeal to institutional investors. The development was part of a broader trend of urban revitalization in Chicago's West Loop, driven by demand for mixed-use spaces and entertainment options.
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